CJ CheilJedang Q2 net rises 16% on food, high-end products


South Korean food company CJ CheilJedang Corp. reported a 16 percent increase in net profit for the second quarter compared to the previous year, attributing the growth to higher sales of food and premium products. The company's net profit for the three months ending in June reached 147.82 billion won, up from 127.46 billion won in the same period last year. This growth was largely driven by strong overseas sales of CJ's Bibigo brand dumpling products and other food items, as well as increased sales of high-end amino acid for livestock. Additionally, increased equity gains from its wholly owned livestock feed company CJ Feed&Care, which operates in Southeast Asia, contributed to the company's bottomline. In the first half of the year, CJ CheilJedang saw a significant surge in net income, rising by 71 percent compared to the same period in the previous year, reaching 302.45 billion won. Operating profit also increased by 27 percent to 759.5 billion won, with sales rising by 1.1 percent to 14.45 trillion won. The company's global presence includes business entities in the United States, Britain, France, Australia, Japan, China, and Thailand.


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